NEW YORK, NY - Joann, the Hudson, Ohio-based fabric and craft retailer, is closing around 500 stores across the U.S.—over half of its 800 current locations. This announcement comes just weeks after Joann filed for Chapter 11 bankruptcy for the second time in less than a year, citing sluggish consumer demand and inventory shortages.
Among the stores set to close are locations in Lima, Findlay, and Defiance, Ohio. The company confirmed that "going out of business" sales are expected to start this weekend. Ongoing operational issues forced the company to seek bankruptcy protection again in January 2025. The interim CEO noted that significant inventory shortages, dropping stock levels by 10%, contributed to ongoing financial challenges.
In 1943, Joann with a single store in Cleveland, Ohio. Formerly known as "Jo-Ann Fabric and Craft Stores," the company rebranded for its 75th anniversary.
